Real estate residency in Türkiye 2024
Real estate residency in Türkiye is one of the best residence permits. It is granted to foreigners who buy real estate in Türkiye and meet a set of conditions. To know how to obtain the real estate residency in Türkiye 2024, read this article from Ebla Real Estate.
Real estate residency in Türkiye 2024:
Real estate residency is an official document, issued by the General Administration of Turkish Immigration. It is granted to foreigners who buy a residential property. Moreover, it allows them to live, reside, invest in Türkiye, do business and carry out daily activities without experiencing problems
It is worth noting that real estate residency in Türkiye in 2024 is granted for a period of one year, easily renewable as long as you own the property.
New amendments to real estate residency in Türkiye 2024:
On Monday 10/16/2023, the Turkish authorities issued a new decision amending the financial condition for granting a real estate residence permit in Türkiye, raising the value of the property granting real estate residency from $75,000 to $200,000.
Conditions for granting real estate residency in Türkiye 2024:
- Buying a property in Türkiye for a value of no less than $200,000.
- The buyer must be among the nationalities entitled to own real estate in Türkiye.
- Moreover, the property must be a residential property type.
- Furthermore, the reason for purchasing must be housing, not real estate investment.
- Additionally, the property must not be close to Turkish military and security barracks and centers, and the distance must not be less than 400 meters.
- Obtaining the property’s earthquake insurance Dask.
- A passport valid for a minimum of 6 months.
- A translated family statement for the property owner that includes the names of all family members.
- In addition to a health insurance for the whole family.
Documents required to obtain real estate residency in Türkiye 2024:
- Title deed of the property (tapu).
- Real estate evaluation report in Türkiye, which shows that the value of the property is not less than 200 thousand dollars.
- Notice of selling foreign currency to the Central Bank of Türkiye and exchanging it for local currency via an intermediary bank.
- Notice of transfer of the property value in Turkish Lira (equivalent to the previous day’s exchange rate) from the seller’s account to the customer’s account.
- Property earthquake insurance.
- A valid passport for a minimum period of six months.
- A family statement of children translated into Turkish and certified by the Turkish Embassy in the mother country.
- Health insurance in Turkish territory for each member of the family.
- 4 biometric personal photos.
- Notice of payment of residence fees in Türkiye.
- Residency application form in Türkiye.
Advantages of real estate residence in Türkiye:
- Real estate residency is granted to members of the owner’s family: wife and children under the age of 18.
- Moreover, it provides the possibility to enter Türkiye without the need to obtain a travel visa (Visa) or a security approval for that.
- After 8 years of obtaining the continuous real estate residence permit in Türkiye, the owner has the right to apply for a long-term residence.
- Facilitating the movement of investors, traders, businessmen and procedures for establishing companies and recruiting workers in Türkiye.
- Furthermore, real estate residence provides the ability to travel and move between Turkish cities and regions without the need to obtain a travel permit
- The possibility of obtaining an education opportunity in Türkiye’s schools and universities.
Edited by: Ebla Group Real Estate
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